A San Francisco escort has written a guide for other escorts to teach them how to accept bitcoin for their services; banking giant BNP Paribas regards Bitcoin a major disruptive invention as well as other top stories for July 3.

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A San Francisco escort has written aguide for other escorts to teach them how to accept bitcoin for their services; banking giant BNP Paribas regards Bitcoin a major disruptive invention as well as other top stories for July 3.

After Credit Card Blockade of Backpage.com, Escort Teaches Other Escorts about Bitcoin

Visa and MasterCard said this week that they will no longer let cardholders make any purchase on Backpage.com, the classified advertising website which is best known for its mature content. In response, San Francisco escort Liara Roux has now written a guide for other escorts to teach them how to accept bitcoin for their services.

Roux:

“American Express, Visa, and MasterCard are no longer accepted at Backpage.com. This is obviously an awful situation; many sex workers rely heavily on Backpage for their business. While it would be wonderful to have a magic wand and fix this problem, bitcoin is one of the few payment methods still accepted by Backpage and I want to make sure those who need it can use it.”

BNP Paribas: Bitcoin is a Disruptive Invention

BNP Paribas, one of the largest banks in the world, has released a new report in which the bank details two scenarios for the integration of blockchain technology in our financial system, while arguing that bitcoin, "the first successful attempt for a secure and decentralized register," should be considered as a major disruptive invention "like the steam or combustion engine."

The first scenario would hold that current players in the financial industry become redundant, while the second scenario entails the integration of blockchain technology into existing services.

Former Silk Road DEA Agent Pleads Guilty to Bitcoin Theft

Former DEA agent Carl Mark Force IV has admitted to stealing over US$700k worth of bitcoin while running the Baltimore Silk Road investigation. Force, the lead undercover agent in communication with Ross Ulbricht – the mastermind behind the online drug marketplace now sentenced to life in prison – plead guilty to charges of extortion, money laundering and obstruction of justice.

UK Bitcoin Exchange Coinfloor Launches P2P Marketplace

London-based bitcoin exchange Coinfloor has launched its P2P marketplace Coinfloor Market, allowing investors and consumers to buy from different bitcoin brokers in a safe environment. As such, Coinfloor Market aims to make the process of buying bitcoin easier for Britons by offering direct connections to vetted brokers within local banking facilities.

Coinfloor CEO Mark Lamb said:

“Our founding members are key to the success of Coinfloor Market. Just as the NYSE was committed to a decentralized network of brokers backed by a centralized exchange. Coinfloor is the first institution in the Bitcoin industry to mirror this proven model.”

Brazilian Deputy Request Public Hearing to Discuss Bitcoin

A Brazilian congressman for the State of Paraiba, Manoel Junior, has requested the Finance and Taxation Committee to conduct a public hearing on Bitcoin. In his letter to the President of the committee, Junior puts forth a number of questions. Among others, he would like to know if bitcoin could replace national currencies, what implications that might have, and what repercussions bitcoin generates for the financial system and its stability.

London Candidate Proposes MayorsChain, a Blockchain Created to ‘ThrowCity Hall’s Books Wide Open’

George Galloway, a mayoral candidate of London, has implemented the blockchain technology as a part of his 2016 campaign to create a platform called MayorsChain, in an attempt to build 100% transparent records of the city’s budget allocations and public funds. Galloway and his team of developers have proposed a design for a blockchain-based technology that will implement the Bitcoin 2.0 platform Horizon and a “network” of blockchains called the Blocknet.

Galloway said:

“Since governments spend public funds on shared public resources, the public has a right to transparency. [...] I want to throw City Hall’s books wide open.”

Email Paywall System Mailman Wins Coinbase Hackathon

Email paywall system Mailman has won Coinbase's second global Bitcoin hackathon, BitHack v2. Mailman allows users to reward timely replies with bitcoin and filter spam using the blockchain. Mailman earned US$10,000 of bitcoin and a place in Boost VC’s bitcoin accelerator class.

Second place was won by bitcoin nanopayment wall for publishers SatoshiPay, while remittance aggregator Rebittance ended in third.

Xoom Acquired by PayPal for US$890 Million; May Use Bitcoin

PayPal has officially announced that the company agreed to acquire a San Francisco-based online money transfer technology and services company Xoom to the tune of US$890 million.

The deal is set to be closed during the fourth quarter of 2015, months after the planned split with Ebay on July 17.

In a blog post, PayPal CEO Dan Schulman wrote:

“Today, this primarily cash-based system of sending money abroad can be time-consuming, insecure and expensive. […] There is no more personal payment experience than sending your hard-earned money home to help the people you love. Making international remittances simpler, safer and more affordable is something PayPal is excited to do for our customers.”

With PayPal’s growing interests in bitcoin, Xoom and PayPal may potentially work together to implement bitcoin in Xoom’s payment service platform.